All Employee Benefits articles in Web Issue – Page 669
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Article
Goldman Sachs and Molson Coors awarded Pension Quality Mark
Goldman Sachs and Molson Coors are the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes.The PQM standard was awarded to both employers by pensions minister Steve Webb at the National Association of Pension Funds’ (NAPF) annual conference in Manchester on ...
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Article
Michelin awarded PQM for fourth year
Michelin has retained its Pension Quality Mark (PQM) for a fourth consecutive year.The award recognises the tyre manufacturer’s commitment to helping employees save for retirement through its trust-based defined contribution (DC) pension scheme.The PQM, which was launched in 2009 by the National Association of Pension Funds, recognises DC schemes with ...
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Article
Barclays launches new benefits website
Barclays Corporate and Employer Solutions (C&ES) has launched a website dedicated to its workplace savings and financial education product. Barclays Beyond Benefits, which was launched in September, brings together consultancy services, traditional employee benefits, share plans, pensions, financial education and banking services in a single online portal.The website includes:A financial ...
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Article
Jelf Employee Benefits launches paper on cancer care
Jelf Employee Benefits has launched a white paper on cancer care.The paper is designed to educate employers on the options available to help them manage their costs and care better for their employees.The white paper includes details on:NHS shortfalls.Issues with private medical insurance (PMI).Pressures on employers.Alternative cancer cover.Iain Laws, director ...
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Article
Employers recognise flexible benefits can boost productivity
Financial and HR directors in UK organisations recognise that an appropriate mix of flexible benefits, which include flexible working arrangements, wellbeing initiatives and long-term financial protection, can boost productivity and wellbeing as well as retain employees, according to research by Unum, the financial protection insurance firm.The survey, which had 1,150 ...
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Article
OTS prioritises ‘quick wins’ in benefits tax changes
The Office of Tax Simplification (OTS) has published a paper that prioritises its list of the 43 ‘quick wins’ around changes to the tax system in relation to benefits and expenses.The paper covers areas such as fleet management, bikes-for-work schemes and long-service awards.HM Revenue and Customs (HMRC) has undertaken an ...
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Article
Pension industry needs to be bold to deliver best value
The pensions industry needs to be bold if it is to deliver increased value and the best outcome for members.Defined contribution (DC) scheme charges, in particular, need to be brought into line across all providers with greater transparency.Speaking in a panel debate at the National Association of Pension Funds’ annual ...
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Article
B&Q to launch financial education plan
EXCLUSIVE: B&Q is to launch a financial education programme for employees in November.The DIY retailer’s parent company, Kingfisher, will roll out the programme as a result of auto-enrolment, which has increased participation in its money purchase pension scheme to 17,000 employees, nearly 93% of the workforce.B&Q’s financial education programme, branded ...
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Video
VIDEO: Brian Newman: Substitute engagement for involvement
Employers should substitute the word ‘engagement’ for ‘involvement’, said Brian Newman, vice president of HR at Live Nation International, during an interview with Debbie Lovewell, deputy editor of Employee Benefits.He added: “To me, it’s about using every opportunities to engage our employees in strategic direction, social events, with learning activites ...
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Article
Royal London to rebrand pensions and life business
Royal London is to ditch its UK life, pensions and investment brands and bring the businesses under the Royal London brand umbrella.Bright Grey, Scottish Life and Scottish Provident are expected to be phased out over the next two years.The organisation’s fund management division, Royal London Asset Management, will retain its ...
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Article
JP Morgan launches DC business
JP Morgan Asset Management has launched a dedicated defined contribution (DC) pension business for the UK market.UK SmartRetirement offers a range of target date funds, which take into consideration member behaviour analysis and long-term market assumptions, to create default investment funds that comprise different investment types.Simon Chinnery (pictured), head of ...
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Article
Savers more confident, calm and optimistic
Almost half (47%) of respondents who take control and check their finances every month feel confident about their financial future, according to research by Standard Life, conducted by neuroscience research agency Mindlab and appraised by cognitive neuroscientist Dr Lynda Shaw.The Saving in mind report used both electroencephalography (EEG) techniques within ...
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Article
Debbie Lovewell: Is pension charges cap enough?
It proposed three possible options for the cap:A charge cap of 1% of the funds under management, reflecting the current stakeholder pension cap;A lower charge cap of 0.75%, reflecting the charging levels already being achieved by many schemes;A two-tier ‘comply-or-explain’ cap, which would set a standard cap of 0.75% for ...
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Article
Story Homes launches company car scheme
Cumbrian-based housebuilder Story Homes has launched a company car scheme to enhance its reward and benefits package.The scheme, which is provided by fleet management firm Lex Autolease, includes insurance, and a service and maintenance package.Around half of the organisation’s employees are eligible to participate in the scheme and can choose ...
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Article
Pensions could play role in cost of long-term care
Pension schemes could play a key part in meeting the costs of long-term care in retirement in the UK, according to a report by Squire Sanders.The law firm’s white paper, In sickness and in health: reforming pensions and social care, addressed the funding challenges represented by an ageing population.It recommended ...
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Article
My Family Care launches online portal for working fathers
My Family Care has launched an online portal to help working fathers stay engaged in the workplace.The child and eldercare provider has partnered The Fatherhood Institute to create a new section, Being a Dad, on its Work+Family Space website. The new resource offers information on coping with pregnancy, babies, childcare, ...
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Article
Debbie Lovewell: Pensions reports highlight challenges
Several pensions reports published this week brought some frankly concerning issues firmly back into the spotlight.Firstly, Scottish Widows’ 2013 Women in Pensions report found that just 40% of women are adequately prepared for retirement, while more than a third (39%) have made no pension provision at all. In addition, the ...
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Article
Employees would change jobs for flexible working
Nearly six in 10 (59%) office workers would change jobs if their employer did not offer flexible-working arrangements, according to research by recruitment firm Office Angels.The research, which surveyed more than 1,000 office workers and 110 employers, found that nearly half (48%) of employee respondents choose to work flexibly because ...
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Article
DWP consults on pension charges
The Department for Work and Pensions (DWP) has launched a consultation into charges on workplace pension schemes.Better workplace pensions: a consultation on charging, follows the Office of Fair Trading’s (OFT) market study into defined contribution (DC) pensions, which was published in September.The DWP’s proposals include:Mandating disclosure for pension scheme members ...
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Article
Employers should limit pension scheme fund choice
Employers should limit the pension fund choice they offer employees to maximise their propensity to invest.Speaking at the National Association of Pension Funds’ annual conference and exhibition 2013, Andrew Cheseldine, a partner at actuarial consultancy, Lane, Clark and Peacock, argued that employers that offered employees too much fund choice actually ...